Interest Rates on ARM Mortgages Are Adjusting… Lower???
Brought to you by Punny Money:
Customer B ends up saving $400 a month and buys Customer A’s house at a foreclosure auction for half of what Customer A paid for it in 2003. Customer A finds out and sleeps with Customer B’s really hot wife for revenge. Customer B and Mrs. Customer B end up getting divorced; she takes Customer A’s original house in the divorce agreement and moves in with her man-mistress (Customer A). Then the LIBOR rate jumps 5% and everyone loses their homes anyway. The end.
(In case you don’t know what the LIBOR is, it’s just an imaginary number established by magical banking elves from the mythical land of England.)